Update: OP Trade and Indicators

Aug 22

OPUSDT has managed to climb full 17% within the past 8 hours, wow. it (kind of) upholds the violet upward support and even burst through the 50 fib and golden pocket. the next challenge will be the 78.6 fib which coincides roughly with the downward resistance (red line). basically looking like a symmetrical triangle which , in this case, can be a 50/50 setup.

BUT given the still bullish sentiment for ETHUSDT I would assume that - in time - it will burst through the 84 cent area. my current first garget area is 88 cents but I consider closing the trade since those two last candles produced a huge fair value gap between 76 cent and 79 cent., currently at roughly 80 cent it could trigger a fill towards the 75 cent area which is barely above the already mentioned 50 fib level to find support. who know, it could also already find support (and strength to push higher) at the golden pocket around 78 cents. let's see.

Sep 16

Trade active

lots of consolidation happening, still in the trade. will see how it goes once the parabolic phase (hopefully) starts for alts.

Oct 17

Trade closed: stop reached

stop reached - due to the huge dump in the market. let's see how it goes. it's a possible good entry it seems but I'll leave it as it is right now. will update a new setup soon.